Kochi, 5th May 2025 : Kings Infra Ventures
Ltd. has signed an agreement for the proposed acquisition of M/s. Sriaqua
Seafoods, a merchant exporter based in Vishakhapatnam, Andhra Pradesh. The
acquisition, which will be executed under a performance-linked structure, marks
a key step in expanding Kings Infra’s footprint across the global seafood value
chain.
Under the agreement, Sriaqua Seafoods will
begin operating under the Kings Infra brand from the date of signing. All
existing contracts and order books of the firm will be honored under Kings
Infra's management. The acquisition is structured as a transfer of business on
a going concern basis, with valuation subject to achievement of mutually agreed
Key Performance Indicators (KPIs) over the next six months.
The Board of Directors of Kings Infra
approved the proposal for takeover of Sriaqua Seafoods at its meeting on 22
April 2025, pursuant to which the Agreement was concluded at Kochi. Both the
Companies have mutually agreed to work together from 02nd May, 2025.
Andhra Pradesh stands as a cornerstone of
India's aquaculture and seafood export industry, consistently leading in both
production and export volumes. In the fiscal year 2023–24, the State
contributed around 32% of the seafood exports from India, underscoring its
pivotal role in the sector. Visakhapatnam Port emerged as India's top seafood
export hub in FY24, handling 3.14 lakh tonnes valued at ₹17,983 crore. The
State's aquaculture sector supports approximately 300,000 farmers and has been
instrumental in driving India's seafood export growth.
Kings Infra’s entry into Andhra Pradesh,
particularly Vishakapatnam, marks a significant boost to the Company’s export
business, under the leadership of one of the seafood industry’s best
technocrats, Mr. Shaji Baby John, Chairman and Managing Director, Kings Infra.
As part of its global expansion strategy,
Kings Infra will also establish a seafood distribution entity in the UAE, with
Mr. Sreeram Inagalla, Managing Partner of Sriaqua Seafoods, taking charge as
CEO of the international operations. Chairman Mr. Shaji Baby John is optimistic
that, with Sreeram’s leadership, overall sales will see an upward trend,
emphasizing quality and efficiency. Sreeram's innovative mindset is set to
foster sustainable growth and ensure long-term success.
This signing ceremony was held at the Kings
Infra headquarters in Kochi in the presence of senior leadership from both
organizations.
About Kings Infra Ventures Ltd.
Kings Infra is a fully integrated seafood
enterprise with operations across aquaculture, seafood processing,
international trade, infrastructure development, and domestic retail
distribution.
About Sriaqua Seafoods
Sriaqua Seafoods operates across the seafood
value chain — from aquaculture farms to modern processing and cold storage
facilities — with a focus on sustainability, quality, and timely global
delivery. Visakhapatnam serves as a major harbor and landing center along the
entire East Coast. This will enable us to boost the export of a variety of marine and aquaculture
products.